SOURCE: Moleculin Biotech, Inc.

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May 04, 2016 06:58 ET

Moleculin Biotech Inc. Announces Pricing of Initial Public Offering

HOUSTON, TX and NEW YORK, NY--(Marketwired - May 04, 2016) - Moleculin Biotech Inc. ("Moleculin" or the "Company"), today announced that its initial public offering of a minimum of 1,400,000 shares and a maximum of 2,000,000 shares has priced at $6.00 per share, the upper end of the previously-filed $5.00 to $6.00 pricing range.

The Company expects the offering to close on or around May 20, 2016, subject to completion of the minimum offering and other customary closing conditions, and that its shares will begin trading on NASDAQ Capital Market under the symbol "MBRX" shortly after closing. The Company plans to use the net proceeds of the offering to commence a further Phase II clinical trial for Annamycin, an anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. Other uses of the MBRX IPO funding include license maintenance and IP prosecution costs, research, and general working capital purposes.

Bonwick Capital Partners LLC and Network 1 Financial Securities, Inc. are acting as underwriters for the offering.

Moleculin's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Bonwick Capital Partners LLC, 40 West 57th Street, 28th Floor, New York, New York 10019, Attention: Daniel McClory, Managing Director, Investment Banking or email dan.mcclory@bonwickcapital.com or by calling +1 (949)-502-4408.

About Moleculin Biotech, Inc.:

Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company focused on the development of anti-cancer drug candidates, many of which are based on discoveries made at M.D. Anderson Cancer Center. .

Our lead product candidate is Annamycin, a Phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML.

We also have two active pre-clinical small molecule portfolios, one of which is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient's own immune system. The other portfolio targets the metabolism of tumors.

For more information about the offering, please visit http://ipo.moleculin.com

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These statements relate to future events, future expectations, plans and prospects. Although Moleculin Biotech believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin Biotech has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the heading "Risk Factors" in our Registration Statement on Form S-1 originally filed with the Securities and Exchange Commission on February 1, 2016, as amended (Registration No. 333-209323). Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

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